

ASX has recently updated its admission requirements, relating to both initial public offerings and back-door listings. After some extensive consultation, the updated admission requirements have been generally well received.
Under certain circumstances, a director may be personally liable for the company’s debts and other losses.
A proprietary company must have at least one director (and at least one who ordinarily resides in Australia), and a public company must have at least three directors (at least two of whom ordinarily reside in Australia).